Page 59 - Envision 17
P. 59

 issue 17
   Policy
Putting Companies in the Driver’s Seat to their Circular Transition
New metrics framework supports companies in their transition to the circular economy.
Carolien van Brunschot, Manager Circular Economy, World Business Council for Sustainable Development (WBCSD)
The vision of a circular economy has been around since the 70s, but only in the last few years is the alternative
to our typical take-make-waste economic model making its way into the company boardroom conversations. With a global economy that is currently 9% circular, forward-thinking businesses are keen to capitalise on the opportunities in the 91% room for improvement. The global business opportunity has been estimated at around USD 4.5 trillion.
Circular economy principles resonate with the private sector, but at the same time companies find integrating circular practices into business strategy far from straightforward. In a world that is still predominantly linear and where companies are part of complex global value chains, moving to more circular ways of doing business can be challenging if your value chain cannot follow your lead to facilitate this shift.
Another challenge is that there is no consensus approach for how companies can measure their effectiveness in moving towards more circular business models. This makes it a process that is difficult to plan, manage and monitor. How do you know what targets to set? Or where you're
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